TY - JOUR
T1 - On competitive cycles in productive economies
AU - Benhabib, Jess
AU - Laroque, Guy
PY - 1988/6
Y1 - 1988/6
N2 - In a model of overlapping generations with production, money, and an endogenous labor supply, general conditions are given for the existence of two different types of cyclical equilibria. The conditions are given in terms of the elasticities of demand for savings and for capital with respect to the interest rate and of the capital-consumption ratio at the golden rule steady state. Examples using CES technologies are also studied.
AB - In a model of overlapping generations with production, money, and an endogenous labor supply, general conditions are given for the existence of two different types of cyclical equilibria. The conditions are given in terms of the elasticities of demand for savings and for capital with respect to the interest rate and of the capital-consumption ratio at the golden rule steady state. Examples using CES technologies are also studied.
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U2 - 10.1016/0022-0531(88)90258-X
DO - 10.1016/0022-0531(88)90258-X
M3 - Article
AN - SCOPUS:0000111959
VL - 45
SP - 145
EP - 170
JO - Journal of Economic Theory
JF - Journal of Economic Theory
SN - 0022-0531
IS - 1
ER -